What a clusterf*ck-- who needs the rather inane shortseller report from "Fuzzy Panda Research" yesterday when there's Jefferies analyst Stephen Volkmann. Singing the praises of ELMS last year and positing the highest one-year price target ($18) among the six analysts, early this a.m. he came in with a downgrade to Hold and slashed his PT all the way down to $2.50/share (far below the reduced PTs of analysts yesterday: $7, $6, $4). I was expecting him to defend the investment thesis, not tank it.
I sold 12k of my 14k shares pre-market on the ask (to not crash the price) at 2.49 avg.
At least i'll have a huge tax-loss deduction to offset far more massive gains in mkt-tracking ETFs (VTI, VOO, ITOT, the bulk of my portfolio the past six years) in case i need to take some cap gains this year or next.
But the 6% of my portfolio i've devoted to individual stock trading, which had become very overweight on ELMS (because of the uniformly positive prospects put out by Volkmann, Ives at Wedbush, and the others) has just been torched.
The new ELMS interim CEO Shauna McIntyre needs to step up here ASAP and defend the investment thesis and business model....
And jeez, when is that safety certification (homologation) from the NHTSA going to ever happen? Taylor promised it in Sept. for the Fall, then Dec., then January.
I was expecting a pop from that news, but now am wondering if it's coming at all....
Sorry to be so negative but i feel quite betrayed by mgmt, IR, and analysts.
I'm keeping 2K shares just in case this thing ever turns around and gets rolling.....
